Local housing market currently favors sellers - News, Weather, Sports, Toledo, OH

Local housing market currently favors sellers

(Source: WTOL) (Source: WTOL)
TOLEDO, OH (WTOL) -

If you're looking to sell your house, now is the time to put it on the market.

There are now fewer homes on the market and more buyers, so competition is fierce.

Part of this is because of the 88 million millennials starting to buy homes.

There were around 8,000 homes for sale in Northwest Ohio when the economy crashed in 2008. In 2018, there are just over 3,000 for sale due to the amount of people buying houses.

"This is a great time to purchase because interest rates are low. Home values are still very affordable," said John Mangas of REMAX Realtors. "Toledo is  one of the most affordable places to live in the nation, and the amount of house you're able to get for the payment is a really great value here."

For those looking to sell, focus on the appearance with fresh paint, landscaping and by staging it with a clean atmosphere.

For buyers, connect with a realtor you can work well with to have financing pre-approved, so once you find the right house you can write an offer and be ready to go.

"Buyers have to be really ready to make a decision. Have everything in place and pull the trigger because often times we're going to see multiple offers by other buyers who are also interested in the property. If they're more qualified or more ready to engage in the process, they may win out over you," Mangas said.

Copyright 2018 WTOL. All rights reserved.

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